Latest news with #HassanGhanem
Daily News Egypt
17-05-2025
- Business
- Daily News Egypt
HDB reports EGP 4.82bn net profit in Q1 2025, launching new strategy with strong momentum
The Housing and Development Bank (HDB) has kicked off its 2025–2030 strategic plan with a strong financial performance in the first quarter of 2025, posting substantial growth across all key metrics and delivering its highest-ever quarterly net profit. The bank's standalone financial results for Q1 2025 show a remarkable rise in pre-tax profits and provisions to EGP 6.484bn, up from EGP 3.631bn in the same period last year. This reflects an increase of EGP 2.853bn and a growth rate of 79%. Net profit after income taxes reached EGP 4.821bn, nearly doubling from EGP 2.426bn in Q1 2024—an increase of EGP 2.395bn or 98.7%. Strategic Vision and Operational Excellence Commenting on the results, Hassan Ghanem, CEO and Managing Director of HDB, emphasized that the performance is a direct outcome of the bank's new strategy, launched in early 2025. 'Our 2025–2030 strategy aims to position HDB among the top banking choices in Egypt's financial sector. These strong results signal we are on the right path,' he said. He explained that the bank has focused heavily on improving operational efficiency, managing funding costs, and optimizing resource allocation to enhance long-term profitability. These efforts led to a 79% increase in net operating income, which reached EGP 7.573bn by the end of March 2025, up from EGP 4.231bn a year earlier. The strategy also places significant emphasis on customer satisfaction, with the bank striving to offer tailored solutions for current and prospective clients. This customer-centric approach has contributed to expanding HDB's customer base, strengthening trust, and increasing its market share across a variety of financial products. Customer deposits stood at EGP 135bn at the end of the first quarter. Of this, corporate deposits totaled EGP 67.134bn, while individual deposits reached EGP 67.88bn, reflecting strong confidence in the bank's financial offerings. Steady Asset Growth and Diversified Lending Ghanem confirmed that HDB's continued efforts to reinforce its position in the Egyptian banking sector have translated into sustainable asset growth. Total assets reached EGP 176.806bn by the end of March 2025, supported by notable increases in the bank's loan portfolios. Total loans stood at EGP 58.701bn, reflecting a 4.9% growth rate. The corporate loan portfolio increased by EGP 1.694bn, or 6%, to reach EGP 30.055bn, while retail loans rose by EGP 1.033bn, or 3.7%, to EGP 28.645bn. This balanced growth demonstrates the bank's commitment to supporting a wide range of economic sectors while ensuring high credit standards. The bank's asset quality also saw improvements, with the coverage ratio rising to 151.8% by the end of March 2025, compared to 137.1% at the close of 2024. This indicates enhanced risk management and credit discipline. The loan-to-deposit ratio climbed to 43.5%, up from 38.6% at the end of 2024, reflecting stronger credit expansion. Simultaneously, the bank recorded a 77.4% rise in revenue from loans and similar income streams, while the cost of deposits and similar obligations rose by 59.6%. This contributed to an 86.4% surge in net interest income, which reached EGP 6.932bn in Q1 2025, up from EGP 3.720bn. Profitability and Capital Strength HDB's profitability ratios improved significantly in Q1 2025. The return on average equity rose to 78.04%, compared to 49.01% in Q1 2024, while the return on average assets reached 10.83%, up from 6.37%. These figures underscore the bank's ability to maximize shareholder returns while efficiently utilizing its asset base. The capital adequacy ratio (CAR) stood at 30.77%, comfortably exceeding the Central Bank of Egypt's minimum regulatory requirements. This highlights the bank's robust capital position and its ability to absorb potential shocks while pursuing growth. Consolidated net profits, including the bank's subsidiaries and affiliated companies, also showed strong performance. Net consolidated profit reached EGP 4.959bn after taxes by the end of March 2025, up from EGP 2.808bn in the same period in 2024—an increase of EGP 2.151bn or 77%. Ghanem noted that this confirms the bank's effective strategy in expanding its group-wide operations and boosting investments. Digital Transformation and Innovation In line with its strategic priorities, HDB has accelerated its digital transformation initiatives to meet evolving customer expectations and improve service delivery. 'We have launched a comprehensive digital expansion strategy designed to build an integrated, innovative, and flexible digital banking ecosystem,' Ghanem said. The bank is working closely with leading fintech companies to develop new solutions and enhance customer experience, including upgrades to its technological infrastructure. As a result, the number of internet and mobile banking users rose by 5% in Q1 2025 compared to the end of 2024. Meanwhile, mobile and online transactions increased by 8%, signaling growing adoption of digital channels among HDB clients. These investments in digital platforms are intended not only to improve convenience but also to enable data-driven insights and personalized banking, in line with the bank's vision for future-ready financial services. Commitment to Sustainability and Community Impact Ghanem also underscored the bank's commitment to environmental, social, and governance (ESG) standards. HDB has actively financed a range of sustainable projects, aligning with Egypt's broader goals for green economic development. The bank allocated EGP 7.791bn in financing across various sustainable finance segments, including corporate lending, syndicated loans, and SME financing. These investments support projects that comply with environmental sustainability criteria and contribute to long-term economic resilience. 'Our goal is not just profitability, but responsible growth that supports national priorities and adds long-term value to society,' Ghanem said. He added that the bank's 2025–2030 strategy places significant emphasis on developing human capital. 'People are our greatest asset. We are investing in training, leadership development, and inclusive talent policies to maintain a high-performing, agile workforce.' Social Responsibility at the Core Beyond its financial ambitions, HDB continues to invest in corporate social responsibility (CSR) programs, particularly in education and healthcare—two pillars that Ghanem described as vital for sustainable societal development. The bank has intensified its community engagement efforts under the new strategy, expanding partnerships and initiatives that contribute to inclusive growth and social well-being. 'Our CSR efforts are an integral part of our strategic identity. Supporting health and education is not just a duty—it's a long-term investment in the future of our society,' Ghanem concluded.
Zawya
10-03-2025
- Business
- Zawya
Banque du Caire signs loan agreement to fund Hyde Park's Garden Residence project
Egypt - Banque du Caire has signed a medium-term financing agreement worth EGP 750m with Hyde Park Developments to support the construction of 'Garden Residence,' part of the developer's Phase 22 project in New Cairo. The loan will contribute to the total investment cost of EGP 2.4bn, accelerating development progress and reinforcing the bank's role as a key financial partner in Egypt's real estate sector. The signing ceremony was attended by Bahaa El-Shafie and Hesham Abdel Aal, Deputy CEOs of Banque du Caire, along with senior executives. Representing Hyde Park Developments were Chairman Hassan Ghanem—who also serves as CEO and Managing Director of Housing and Development Bank (HDB)—Managing Director Amin Serag, and other company representatives. Bahaa El-Shafie emphasized the strategic importance of the agreement, noting its role in boosting economic growth and generating job opportunities across the real estate supply chain. He underscored Banque du Caire's commitment to supporting leading developers in shaping Egypt's housing infrastructure and addressing growing market demand. Hassan Ghanem highlighted the banking sector's confidence in Hyde Park Developments, positioning the company as a key player in Egypt's real estate market. He reaffirmed Hyde Park's ability to execute large-scale expansion plans while delivering high-quality, integrated residential communities. Amin Serag described the agreement as a significant milestone in completing Hyde Park New Cairo—one of the city's most ambitious real estate projects. He emphasized the development's vision of providing a sustainable, fully integrated community that meets the expectations of modern homeowners. The eight-year financing term, he added, ensures financial flexibility, enabling the company to uphold quality and efficiency standards while advancing project execution. Spanning 6 million square meters in New Cairo's Fifth Settlement, Hyde Park New Cairo is one of Egypt's largest residential developments, featuring 20,000 units and total investments exceeding EGP 160bn. The project offers a diverse range of villas and apartments, catering to various buyer segments. To date, more than 5,000 units have been delivered, demonstrating steady progress in its execution.
Daily News Egypt
09-03-2025
- Business
- Daily News Egypt
Banque du Caire signs EGP 750m loan agreement to fund Hyde Park's Garden Residence project
Banque du Caire has signed a medium-term financing agreement worth EGP 750m with Hyde Park Developments to support the construction of 'Garden Residence,' part of the developer's Phase 22 project in New Cairo. The loan will contribute to the total investment cost of EGP 2.4bn, accelerating development progress and reinforcing the bank's role as a key financial partner in Egypt's real estate sector. The signing ceremony was attended by Bahaa El-Shafie and Hesham Abdel Aal, Deputy CEOs of Banque du Caire, along with senior executives. Representing Hyde Park Developments were Chairman Hassan Ghanem—who also serves as CEO and Managing Director of Housing and Development Bank (HDB)—Managing Director Amin Serag, and other company representatives. Bahaa El-Shafie emphasized the strategic importance of the agreement, noting its role in boosting economic growth and generating job opportunities across the real estate supply chain. He underscored Banque du Caire's commitment to supporting leading developers in shaping Egypt's housing infrastructure and addressing growing market demand. Hassan Ghanem highlighted the banking sector's confidence in Hyde Park Developments, positioning the company as a key player in Egypt's real estate market. He reaffirmed Hyde Park's ability to execute large-scale expansion plans while delivering high-quality, integrated residential communities. Amin Serag described the agreement as a significant milestone in completing Hyde Park New Cairo—one of the city's most ambitious real estate projects. He emphasized the development's vision of providing a sustainable, fully integrated community that meets the expectations of modern homeowners. The eight-year financing term, he added, ensures financial flexibility, enabling the company to uphold quality and efficiency standards while advancing project execution. Spanning 6 million square meters in New Cairo's Fifth Settlement, Hyde Park New Cairo is one of Egypt's largest residential developments, featuring 20,000 units and total investments exceeding EGP 160bn. The project offers a diverse range of villas and apartments, catering to various buyer segments. To date, more than 5,000 units have been delivered, demonstrating steady progress in its execution.
Zawya
24-02-2025
- Business
- Zawya
Egypt: HDB doubles net profits to $217mln in 2024, marking 83.1% surge
Egypt - The Housing and Development Bank (HDB) has reported a substantial increase in pre-tax and provisioned profits, reaching EGP 16.855bn in 2024, compared to EGP 9.444bn in 2023. This marks a rise of EGP 7.411bn or 78.5%. Net profits after tax climbed to EGP 11bn, up from EGP 6bn, reflecting an increase of EGP 5bn and an impressive 83.1% growth rate. A Path of Sustained Growth and Excellence CEO and Managing Director of HDB, Hassan Ghanem, emphasized the bank's exceptional trajectory, citing significant expansion across all business sectors in 2024. This success underscores the bank's efficiency and its ability to execute its long-term strategy effectively over the past five years. By leveraging market opportunities and diversifying operations, HDB has bolstered its customer base and expanded its portfolio of tailored banking solutions. Ghanem stressed the bank's commitment to fostering strong, value-driven relationships with both institutional and retail clients. Customized financial solutions, aligned with customer needs and cost considerations, have enhanced HDB's reputation as a trusted financial partner. The bank has also prioritized operational efficiency and proactive financial management to counter economic challenges, particularly inflation. Through a flexible and innovative business model, HDB has optimized resource allocation, ensuring sustainable profitability. This approach has driven a 67.6% surge in net operating income, reaching EGP 20.5bn in 2024. Additionally, the successful execution of HDB's customer-centric strategy has expanded its client base and increased market share. Strong customer confidence continues to fuel investments in a diverse range of banking products and services. Robust Customer Deposit Growth Ghanem highlighted that these strategic efforts resulted in a 43.1% surge in customer deposits, which reached EGP 144.95bn in 2024, up from EGP 101.27bn in 2023—an increase of EGP 43.68bn. Institutional deposits grew by 16.9%, reaching EGP 64.48bn, as the bank focused on diversifying its deposit portfolio to mitigate risks and enhance financial stability. Meanwhile, individual deposits soared by 74.5% to EGP 80.47bn, demonstrating strong customer trust in HDB's offerings. Expanding Total Assets HDB's commitment to reinforcing its leadership in the banking sector has translated into sustainable asset growth. Total assets reached EGP 179.45bn in 2024, up from EGP 125.1bn in 2023—an increase of EGP 54.35bn and a growth rate of 43.4%. This expansion was largely driven by the continued growth of the bank's retail and corporate loan portfolios. Loan Portfolio Growth and Strong Lending Standards In 2024, HDB's total loan portfolio grew to EGP 55.97bn, reflecting a 23.1% increase. Corporate and institutional loans expanded to EGP 28.36bn, up by EGP 7.79bn or 37.9%, while the retail loan portfolio climbed to EGP 27.6bn, marking an increase of EGP 2.69bn or 10.8%. This growth underscores HDB's commitment to responsible lending, maintaining high-quality financing standards, and ensuring a diversified lending portfolio for sustainable expansion. Furthermore, the bank's non-performing loan coverage ratio improved to 137.1% in 2024, up from 114.1% in 2023. Loan-to-Deposit Ratio and Interest Income Surge Ghanem noted that the bank's loan-to-deposit ratio stood at 38.6% at the end of 2024, compared to 44.9% in 2023. A 70.4% rise in loan yields and similar income, coupled with a 53.5% increase in deposit costs and related expenses, contributed to an 81% surge in net interest income, which reached EGP 18.92bn, up from EGP 10.45bn. HDB's strong financial performance has driven remarkable returns, with net profit growth boosting the return on average equity to 55.7%, up from 46.9% in 2023. Return on average assets rose to 7.2%, compared to 5.2%, while the capital adequacy ratio stood at a robust 36%, well above the regulatory minimum set by the central bank. These divs reaffirm the bank's commitment to maximizing shareholder value and overall financial resilience. Ghanem also pointed to a notable increase in consolidated net profits, including subsidiaries and affiliated entities, which soared to EGP 12.45bn in 2024, up from EGP 6.56bn in 2023. This EGP 5.89bn increase reflects an 89.8% surge, reinforcing the success of the bank's expansion and investment strategies. Accelerated Digital Banking Growth Ghanem revealed a 39% increase in online and mobile banking subscribers by the end of 2024, compared to the previous year. Digital transaction volumes grew by 60%, while the number of mobile wallet users increased by 75%, reflecting the bank's commitment to digital transformation and customer convenience. Commitment to Sustainable Finance Reaffirming HDB's dedication to sustainable banking, Ghanem highlighted the bank's active participation in financing strategic projects aligned with national green economy and sustainability initiatives. HDB continues to prioritize eco-friendly solutions, investing significantly in sustainable finance. The bank's total financing allocated to sustainable finance principles, including corporate finance, syndicated loans, and SME funding, reached EGP 8.37bn. Through its strategic vision, digital transformation, and commitment to financial and operational excellence, HDB remains at the forefront of the Egyptian banking sector, delivering sustained value for customers, stakeholders, and shareholders alike. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Daily News Egypt
22-02-2025
- Business
- Daily News Egypt
HDB doubles net profits to EGP 11bn in 2024, marking 83.1% surge
The Housing and Development Bank (HDB) has reported a substantial increase in pre-tax and provisioned profits, reaching EGP 16.855bn in 2024, compared to EGP 9.444bn in 2023. This marks a rise of EGP 7.411bn or 78.5%. Net profits after tax climbed to EGP 11bn, up from EGP 6bn, reflecting an increase of EGP 5bn and an impressive 83.1% growth rate. A Path of Sustained Growth and Excellence CEO and Managing Director of HDB, Hassan Ghanem, emphasized the bank's exceptional trajectory, citing significant expansion across all business sectors in 2024. This success underscores the bank's efficiency and its ability to execute its long-term strategy effectively over the past five years. By leveraging market opportunities and diversifying operations, HDB has bolstered its customer base and expanded its portfolio of tailored banking solutions. Ghanem stressed the bank's commitment to fostering strong, value-driven relationships with both institutional and retail clients. Customized financial solutions, aligned with customer needs and cost considerations, have enhanced HDB's reputation as a trusted financial partner. The bank has also prioritized operational efficiency and proactive financial management to counter economic challenges, particularly inflation. Through a flexible and innovative business model, HDB has optimized resource allocation, ensuring sustainable profitability. This approach has driven a 67.6% surge in net operating income, reaching EGP 20.5bn in 2024. Additionally, the successful execution of HDB's customer-centric strategy has expanded its client base and increased market share. Strong customer confidence continues to fuel investments in a diverse range of banking products and services. Robust Customer Deposit Growth Ghanem highlighted that these strategic efforts resulted in a 43.1% surge in customer deposits, which reached EGP 144.95bn in 2024, up from EGP 101.27bn in 2023—an increase of EGP 43.68bn. Institutional deposits grew by 16.9%, reaching EGP 64.48bn, as the bank focused on diversifying its deposit portfolio to mitigate risks and enhance financial stability. Meanwhile, individual deposits soared by 74.5% to EGP 80.47bn, demonstrating strong customer trust in HDB's offerings. Expanding Total Assets HDB's commitment to reinforcing its leadership in the banking sector has translated into sustainable asset growth. Total assets reached EGP 179.45bn in 2024, up from EGP 125.1bn in 2023—an increase of EGP 54.35bn and a growth rate of 43.4%. This expansion was largely driven by the continued growth of the bank's retail and corporate loan portfolios. Loan Portfolio Growth and Strong Lending Standards In 2024, HDB's total loan portfolio grew to EGP 55.97bn, reflecting a 23.1% increase. Corporate and institutional loans expanded to EGP 28.36bn, up by EGP 7.79bn or 37.9%, while the retail loan portfolio climbed to EGP 27.6bn, marking an increase of EGP 2.69bn or 10.8%. This growth underscores HDB's commitment to responsible lending, maintaining high-quality financing standards, and ensuring a diversified lending portfolio for sustainable expansion. Furthermore, the bank's non-performing loan coverage ratio improved to 137.1% in 2024, up from 114.1% in 2023. Loan-to-Deposit Ratio and Interest Income Surge Ghanem noted that the bank's loan-to-deposit ratio stood at 38.6% at the end of 2024, compared to 44.9% in 2023. A 70.4% rise in loan yields and similar income, coupled with a 53.5% increase in deposit costs and related expenses, contributed to an 81% surge in net interest income, which reached EGP 18.92bn, up from EGP 10.45bn. HDB's strong financial performance has driven remarkable returns, with net profit growth boosting the return on average equity to 55.7%, up from 46.9% in 2023. Return on average assets rose to 7.2%, compared to 5.2%, while the capital adequacy ratio stood at a robust 36%, well above the regulatory minimum set by the central bank. These figures reaffirm the bank's commitment to maximizing shareholder value and overall financial resilience. Ghanem also pointed to a notable increase in consolidated net profits, including subsidiaries and affiliated entities, which soared to EGP 12.45bn in 2024, up from EGP 6.56bn in 2023. This EGP 5.89bn increase reflects an 89.8% surge, reinforcing the success of the bank's expansion and investment strategies. Accelerated Digital Banking Growth Ghanem revealed a 39% increase in online and mobile banking subscribers by the end of 2024, compared to the previous year. Digital transaction volumes grew by 60%, while the number of mobile wallet users increased by 75%, reflecting the bank's commitment to digital transformation and customer convenience. Commitment to Sustainable Finance Reaffirming HDB's dedication to sustainable banking, Ghanem highlighted the bank's active participation in financing strategic projects aligned with national green economy and sustainability initiatives. HDB continues to prioritize eco-friendly solutions, investing significantly in sustainable finance. The bank's total financing allocated to sustainable finance principles, including corporate finance, syndicated loans, and SME funding, reached EGP 8.37bn. Through its strategic vision, digital transformation, and commitment to financial and operational excellence, HDB remains at the forefront of the Egyptian banking sector, delivering sustained value for customers, stakeholders, and shareholders alike.
